Fixed endpoint optimal control

Frank Caliendo and Saket Pande ()

Economic Theory, 2005, vol. 26, issue 4, 1007-1012

Abstract: This note offers a new proof of the necessary conditions for fixed endpoint optimal control. Our approach simplifies the conventional derivation of the necessary conditions by using a transversality condition to ensure feasibility of modifications to the optimal path. We further prove that this transversality condition holds automatically at the optimum and can therefore be ignored in the statement of the necessary conditions. Copyright Springer-Verlag Berlin/Heidelberg 2005

Keywords: Fixed endpoint; Optimal control; Necessary conditions. (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1007/s00199-004-0589-y (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:26:y:2005:i:4:p:1007-1012

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

DOI: 10.1007/s00199-004-0589-y

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().